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US CMA | CMA USA Part II Risk Management subject details

US CMA | CMA USA Part II Risk Management

US CMA | CMA USA Part II Risk Management-Before going into that lets know a little bit about CA in USA -Founded in 1887, the AICPA represents the CPA profession nationally regarding rule-making and standard-setting, and serves as an advocate before legislative bodies, public interest groups and other professional organizations. The AICPA develops standards for audits of private companies and other services by CPAs; provides educational guidance materials to its members; develops and grades the Uniform CPA Examination; and monitors and enforces compliance with the profession’s technical and ethical standards.

The American Institute of CPAs is the world’s largest member association representing the accounting profession, with more than 418,000 members in 143 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting.

US CMA | CMA USA Part II Risk Management-The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organisations, federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialty credentials for CPAs who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. Through a joint venture with the Chartered Institute of Management Accountants, it has established the Chartered Global Management Accountant designation, which sets a new standard for global recognition of management accounting.

 The AICPA’s founding established accountancy as a profession distinguished by rigorous educational requirements, high professional standards, a strict code of professional ethics, a licensing status and a commitment to serving the public interest.

Risk Management cover 10% weight of whole syllabus.

The below topics are to be followed for effective preparation under level C:

Types of risk including business, hazard, financial, operational, strategic, legal compliance and political risk; risk mitigation; risk management; risk analysis; and ERM.

US CMA | CMA USA Part II Risk Management

Suggested Reading List is listed as follows:

  1. COSO, The Committee of Sponsoring Organizations of the Treadway Commission, 2004. Enterprise Risk Management – Integrated Framework.
  2. Moeller, Robert R., COSO Enterprise Risk Management, 2nd edition, John Wiley & Sons, Inc., Hoboken, NJ, 2011.

The following are the Content Specification Outlines

1. Enterprise risk

Enterprise liability is a legal doctrine under which individual entities (for example, otherwise legally unrelated corporations or people) can be held jointly liable for some action on the basis of being part of a shared enterprise. Enterprise liability is a form of secondary liability.

a. Types of risk

b. Risk identification and assessment

c. Risk mitigation strategies d. Managing risk

US CMA | CMA USA Part II Risk Management

CMA EXAM

RATIO DEFINITIONS

Following are some of the useful abbreviations

  • EBIT = Earnings before interest and taxes
  • EBITDA = Earnings before interest, taxes, depreciation and amortization
  • EBT = Earnings before taxes
  • EPS = Earnings per share
  • ROA = Return on assets
  • ROE = Return on equity

US CMA | CMA USA Part II Risk Management

Tips for preparation of exam.

1. Read the Institute’s study material thoroughly. Highlight points that seem new or important to you, or points that you may wish to revisit during later readings.
2. During your reading, make very short notes of key words. These lists of key words for every topic would help you revise after having completed your course without having to flip through hundreds of pages of your study material.
3. Download and practice all the Revisionary Test Papers (RTP’s) issued by the Institute for the past 4-5 attempts. These are easily available on the Institute’s website.
4. Download and Practice all the Suggested Answers for the past 4-5 attempts.
5. Revisit the RTP’s and Suggested answers repeatedly till you can answer all the types of questions covered in these papers.
6. In my experience, I have noticed a number of calculation and formulae errors in the RTP’s. Therefore, it is important to have read your concepts from the study material thoroughly before starting with these papers so that you can identify all the misprints.

US CMA | CMA USA Part II Risk Management-US CMA | CMA USA Subject wise Weightage :   Once you have received authorization from ICMA, it is your responsibility to schedule your appointment at a Prometric Testing Center. Log onto www.prometric.com/ICMA to locate a testing center, schedule, confirm, reschedule, or cancel your appointment 24 hours, 7 days a week. Instructions are provided by ICMA at the time your authorization letter is emailed that provides further options for scheduling. ICMA is not responsible if you delay scheduling and there are no longer appointments available within your authorization period. You will be given a confirmation number at the time you schedule an appointment; you should make a note of this number. If you do not schedule an appointment or you don’t appear for a schedule appointment in the selected testing window, you will forfeit your exam fee.

The CMA examination is given in a computer-based format, and is offered at Prometric Testing Centers located throughout the world. An up-to-date listing of all Prometric Testing Centers can be found at Prometric’s website. www.prometric.com/ICMA. Parts 1 and 2 are offered during the following three testing windows. January/February May/June September/October Registrations for Parts 1 and 2 will close on or after the 15th of February, June, and October. Register for the exam: 1. On-line at the online store. 2. Calling 800-638-4427, or (201) 573-9000 with your credit card information.

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